Qualcomm Pumps $120 Million into Display Joint Venture with Japan's Sharp

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Qualcomm is buying a stake in the struggling Japanese electronics manufacturer Sharp for USD120 million and setting up a joint venture for the production of display screens.

The equity investment by Qualcomm will take place in stages and the consummation of the transaction is subject to certain contingencies.

Qualcomm said that its equity investment in Sharp and the expanded joint development agreement build upon the existing work between Sharp and Qualcomm's subsidiary company, Pixtronix as the two companies have been engaged in development activities for the last year and a half.

MEMS display to be developed jointly by the two companies is a display using ultrafine process technology and existing display manufacturing infrastructure with features including high color reproducibility and low-power consumption. The development for commercialization of MEMS display will be achieved by integrating Sharp's core display technology, IGZO and MEMS display technology of Pixtronix.

"Expanding our existing relationship with Sharp to jointly commercialize new MEMS display technologies will help both companies realize their shared goal of driving high performance, lower power displays for a variety of devices, including smartphones and tablets." said Derek Aberle, executive vice president and group president of Qualcomm.

The US4120 million investment into Sharp will be used for the development of MEMS display and necessary capital investments.

The two companies will also consider the possibility of further collaboration of chipsets by Qualcomm Technologies and IGZO-based display technology for mobile terminals.

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